Lessons Learned From Building A $60B Advisory Enterprise: #FASuccess Ep 496 With Shannon Eusey
You are all welcome! Welcome to the 496th episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Shannon Iuse. Shannon is chairman and co-founder of Beacon Pointe Advisors, a Newport Beach, California-based company that manages $62 billion in assets for 25,000 client households.
What is unique about Shannon is how she has led Beacon Point from starting as an independent RIA, adding partners through M&A transactions, bringing in capital partners, and now stepping out of the CEO role.
In this sectionWe discuss in depth how Shannon started Beacon Point with her father to eventually build a large advisory enterprise (at a time when large RIAs were not so common), how Shannon and her team decided to start affiliates to contribute to Beacon Point’s growth (and why she evaluated a partner who fit her firm’s culture above her criteria list), and how Shannon decided to support private partners. It serves as a source of business-building wisdom as the company’s findings and her company evolve over time.
We also discuss how Shannon decided to centralize operations at Beacon Point, with the goal of allowing local offices to focus on advising clients, how Shannon and Beacon Point are developing content and partnerships to drive the company’s organic growth (along with acquisitions), and why Shannon meets one-on-one with new hires at the company to better understand his employees and nurture the team. We will talk about what you do to take care of the team. think).
And be sure to listen until the end to learn how Shannon made the tough decision to step down as CEO (although she will stay on as the company’s chairman and continue to work on priority projects), how Shannon researched women and wealth and how the financial advisory industry can best serve this group, and how Shannon found value in maintaining a certain amount of “white space” and thinking she’s back on her calendar from the workday. role and the business as a whole.
So, whether you’re interested in what it takes to build a $62 billion consulting enterprise, making acquisitions and taking on outside capital, or the role of culture in a large consulting business, we hope you enjoyed this episode of the Financial Consulting Success podcast with Shannon Yuse.
